Moldova: ‘Russia Seeks Overthrow Government’
Moldova’s president says Russia is plotting to overthrow the country’s pro-European Union government after a Russian missile violated the country’s airspace.
Economy
One-third of world economy expected to be in recession in 2023, says IMF chief
This year is going to be tougher on the global economy than 2022, the International Monetary Fund’s chief, Kristalina Georgieva, has warned.
U.S. sees major housing price correction, nearly the largest since World War II
The United States is seeing a major price correction in its housing market, with analysts calling it very nearly the largest such shift since the end of World War II roughly 80 years ago.
Fed hikes interest rate by half a percentage point, with benchmark rate projected to top out at 5.25%
The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point and signaled more tightening next year as it continues to battle high inflation, a fight that’s expected to slow the economy and raise unemployment.
Hungary Delaying NATO Expansion Seeks Israel’s Defense
Hungary’s controversial prime minister says his country will only consider ratifying NATO military alliance membership of Finland and Sweden next year.
Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers
Existing home sales in the United States fell for the ninth straight month in October as higher mortgage rates kept buyers out of the housing market.
Credit Card Debt Jumps to Two-Decade High as U.S. Economy Tumbles
Americans are running up credit card debt at historic levels as they struggle with soaring inflation.
Bulgaria To Provide Military Aid To Ukraine
Bulgaria, once labeled the “sixteenth republic” of the Soviet empire for its obedient allegiance to Moscow, should send military aid to Ukraine, the parliament decided Thursday.
President Biden Pushing ‘New World Order’; Critics Worried (Worthy News Analysis – Video)
U.S. President Joe Biden has come under pressure ahead of mid-term elections for saying there is “going to be a new world order” that the United States must lead.
China Christians Worried After President Xi’s Re-Election
Christians in Communist-run China faced potentially more difficulties Monday after China’s Communist Party on Sunday formally reelected Xi Jinping, the party’s general secretary, for another five years.
US Deficit Soars Thanks to Biden’s Student Debt Forgiveness
The monthly federal budget deficit was up 562 percent from September of last year, according to Treasury Department figures released Friday, mainly due to President Joe Biden’s student debt forgiveness plan.
US Home Sales Fall for Eighth Straight Month
U.S. existing home sales dropped for an eighth straight month in September as surging mortgage rates and still-elevated selling prices push affordability beyond the reach of many prospective buyers.
Pastors Reveal Troubled US Economy Is Having Negative Impact on Churches
While some churches across the country are shaking off the financial effects of the COVID-19 pandemic, a new survey of pastors reveals the troubled economy is now having an adverse financial effect on their churches as well.
Egypt to take over development of Gaza’s off-shore gas field
There are plans in the making for Egypt to take over the development of Gaza’s offshore natural gas field, a move that would stimulate the weak Palestinian economy, i24 News reports. The Gaza Marine field is believed to hold over 1 trillion cubic feet of natural gas, well over what is needed to supply Palestinian territories, and could therefore be a potentially lucrative source of export.
Mortgage Interest Rates Rise To Highest Level Since 2006
The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday.
Democrats go all-in on abortion in final ad blitz, GOP focuses on economy
Republicans are laser-focused on the economy in ads blanketing the airwaves before the midterm elections, while Democrats are sounding the alarm on abortion access as early voting gets underway in many states.
IMF: “worst is yet to come” in global economy
The International Monetary Fund (IMF) has forecast the “worst is yet to come” economically as it predicts a third of the global economy will contract in 2023, facing two consecutive quarters of negative growth, Sky News reports. The IMF made its predictions in its latest World Economic Outlook report.
Iran state TV hacked with anti-government ‘blood on your hands’ message
Iranian state TV was hacked Saturday night as its main news program suddenly transitioned to a photo of Supreme Leader Khamenei with the words “The Blood of Our Youths Is on Your Hands” along with images of Mahsa Amini, who died in custody last month after being arrested by Tehran’s hijab police, and three teenage girls killed in the subsequent nationwide uprisings, Iran International reports.
OPEC+ announces major cut in global oil supplies
OPEC+ has announced a significant cut in global oil supplies ahead of European Union embargoes on Russia energy and in time for the peak winter season, Reuters reports. Exacerbating concerns about soaring inflation, the move is expected to push up the price of gasoline again.
Israel, EU renew dialogue for first time in over a decade
Prime Minister Yair Lapid spoke Monday with delegates from the European Union, renewing economic and political dialogue with the bloc for the first time in over a decade.